E-commerce site The Fancy lands USD7m for social

Social commerce startup, The Fancy, has raised USD7m in funding from Richard C. Perry, owner of luxury retailer Barneys New York.

The company’s e-commerce website and mobile app follows Pinterest’s approach of combining image-heavy discovery and social networking with e-commerce, allowing users to upload items and bookmark products they like. The Fancy raised USD53m in July at a USD600m valuation.

The Fancy’s founder Joseph Einhorn declined to comment on the specifics of the company’s fund raising activities.

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